LAS VEGAS – Paying with your phone, watch, coffee mugs, and now, your car too: the IoT has come a long way.
Honda partnered with Visa to illustrate the first proof-of-concept demonstration of in-vehicle payments at the CES 2017 in Las Vegas last week.
The in-car dashboard notifies drivers when they are near a parking meter or a gas pump, and when a payment becomes available. The driver then reviews the transaction and confirms the payment.
“Turning the car into a platform for payments offers a nearly endless array of ways for automakers, drivers, merchants and other infrastructure companies to completely transform tasks that are tied to cars in some shape or form,” Avin Arumugam, senior vice president, internet of things at Visa Inc.
On the OEM side, in-car payments have been a long time coming, but voice payments, versus a dashboard, will dominate, Toyota’s Sandy Lobenstein, VP of connected strategy & product planning, said during the Consumer Telematics Show. “Payments is one of the areas where using in-car embedded technology, instead of applications from your phone, will definitely prove useful.”
Check out Honda’s demo of its in-vehicle payments tech.
To learn more about advances in payments tech and hear from Visa’s Avin Arumugam, join us at Bank Innovation 2017 in San Jose. Please request your invitation here.1 - Reader Likes This Post